Silvercrest Asset Management Group LLC Lowers Position in NIKE, Inc. (NYSE:NKE)

Silvercrest Asset Management Group LLC lowered its holdings in NIKE, Inc. (NYSE:NKE) by 30.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,643 shares of the footwear maker’s stock after selling 22,008 shares during the period. Silvercrest Asset Management Group LLC’s holdings in NIKE were worth $4,665,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of NKE. Norges Bank purchased a new stake in shares of NIKE in the 4th quarter valued at about $1,315,097,000. Price T Rowe Associates Inc. MD raised its holdings in shares of NIKE by 87.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,135,431 shares of the footwear maker’s stock valued at $1,860,395,000 after buying an additional 7,996,434 shares in the last quarter. Capital International Investors raised its holdings in shares of NIKE by 34.9% during the 4th quarter. Capital International Investors now owns 27,609,613 shares of the footwear maker’s stock valued at $2,997,628,000 after buying an additional 7,143,775 shares in the last quarter. Longview Partners Guernsey LTD purchased a new position in shares of NIKE during the 1st quarter valued at about $533,533,000. Finally, Capital World Investors raised its holdings in shares of NIKE by 612.2% during the 1st quarter. Capital World Investors now owns 5,185,432 shares of the footwear maker’s stock valued at $487,327,000 after buying an additional 4,457,376 shares in the last quarter. Hedge funds and other institutional investors own 64.25% of the company’s stock.

Insider Buying and Selling at NIKE

In other NIKE news, Chairman Mark G. Parker sold 168,378 shares of NIKE stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total transaction of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Mark G. Parker sold 168,378 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.14, for a total value of $15,682,726.92. Following the completion of the transaction, the chairman now owns 1,102,090 shares in the company, valued at $102,648,662.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Mark G. Parker sold 110,000 shares of the business’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the transaction, the chairman now owns 1,102,090 shares of the company’s stock, valued at approximately $80,419,507.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 323,660 shares of company stock worth $27,973,033. 0.50% of the stock is owned by insiders.

NIKE Stock Up 0.4 %

Shares of NYSE NKE traded up $0.33 during mid-day trading on Tuesday, hitting $73.88. 4,807,466 shares of the stock traded hands, compared to its average volume of 11,414,704. The stock has a fifty day moving average price of $85.14 and a 200-day moving average price of $93.39. The company has a market cap of $111.51 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 1.89 and a beta of 1.01. NIKE, Inc. has a 52 week low of $70.91 and a 52 week high of $123.39. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.69 and a current ratio of 2.40.

NIKE (NYSE:NKE) last announced its quarterly earnings data on Thursday, June 27th. The footwear maker reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.16. The business had revenue of $12.60 billion during the quarter, compared to analysts’ expectations of $12.86 billion. NIKE had a return on equity of 42.63% and a net margin of 11.10%. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.66 earnings per share. Research analysts anticipate that NIKE, Inc. will post 3.12 EPS for the current year.

NIKE Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 3rd were paid a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Monday, June 3rd. NIKE’s payout ratio is 39.68%.

Analyst Ratings Changes

A number of brokerages recently weighed in on NKE. TD Cowen decreased their price objective on NIKE from $75.00 to $71.00 and set a “hold” rating on the stock in a report on Thursday, July 25th. UBS Group reissued a “neutral” rating and set a $78.00 price objective on shares of NIKE in a report on Friday, June 28th. Barclays cut NIKE from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $109.00 to $80.00 in a report on Friday, June 28th. Robert W. Baird decreased their price target on NIKE from $125.00 to $100.00 and set an “outperform” rating on the stock in a research note on Friday, June 28th. Finally, Bank of America decreased their price target on NIKE from $113.00 to $104.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $96.30.

NIKE Profile

NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.